boss owes me money & salary

geoffky

Good luck.....whats happened is not fair...your boss has become a parasite..

batches66

for all the ones that have helped and given me advice I thank you very much.

I KNOW that I should never have done it but I helped out a boss/friend - yes my only mistake was to trust but now I'm the one that has to suffer for a very long time to come and that will now ruin my life.
I am now looking for a new job as I believe I have lost it all. I have no way of being able to pay it back so I am now in financial trouble.

NEVER AGAIN WILL I TRUST - once again thanks to those that have offered me the advice I asked for.

Tixy

You need some proper advice from somewhere like ACAS on chasing the salary owed to you, and what you can do if he is unable or unwilling to pay (such as whether you can take goods to that value).

Are you his only employee? if there are other employees are they being paid on time?

Regarding the loan to him. Does the agreement you have with him specify how much was owed (not just that it related to credit cards in your name). Do you have hold of the cards currently? presumably he cannot spend on them any further or run up anymore debt in your name?

If you cannot afford to keep up minimum payments on the cards then I would suggest you get in touch with the credit card companies and ask to be allowed to pay reduced payments (this will have a major impact on your credit file but probably cannot be helped). Just explain you've had a change in cirumcumstances and cannot afford repayments, its irrelevant to them that you have lent the money elsewhere, the debt is legally yours.
If they are unwilling to agree to reduced payments then speak to a debt charity for advice on your options.

If he does go bankrupt then your loan to him will rank alongside his other unsecured creditors (assuming your written agreement stands up and is watertight), but whether you would eventually get anything from his bankruptcy payments will depend on his assets and liabilities at the date of bankruptcy and on what he earns over the next 3years. But I would plan on the basis that you will get nothing and then if you did that would be a bonus.

batches66

Geoffky and Tixy thanks for your replies.

I have been absolutely fooled by him and it seems to be getting worse.
I am his only employee but my problem and mess now and I probably won't get any of it back. I feel constantly sick with the worry of it. My credit history is perfect and he is about to ruin mine also.
I don't think I have a leg to stand on and would be pointless taking him to court for other reasons. Will see what I can do from the above helpful ideas/suggestions.
If I get anything, its a bonus from now on but am going to tell him today I am no longer working for him.
Thanks from one very unhappy sad and depressed lady

Rage_in_Eden

Blimey! I can only echo what others have said. Legal advice now and if you can is there any chance that you could cancel the cards? Speak to the card companies and say you want to stop using them but come to some sort of payment arrangement - he'll stop racking up more debt in your name. Get out of this situation ASAP, it's not going to get better..... First stop for yourself CAB I would say...ring them NOW!

tell_it_how_it_is

I'd agree, please make the effort to go and talk to someone as soon as you can. You need to give yourself the best possible chance of some recompense on this, and walking away only sees you suffer as your boss gleefully walks away scot free.

Also, is there a friend or family member who can help you with the process, to ease the burden a little? A problem shared etc.

Good luck, and be strong, for your own sake!

Silk

batches66 wrote: »

I don't think I have a leg to stand on and would be pointless taking him to court for other reasons. Will see what I can do from the above helpful ideas/suggestions.

Hi Batches,
Try not to be too hard on yourself

When the cards were used was this for cash or were they used to purchase goods of any sort ?